economy
ValueAct's Morfit announces BlackRock position, says technology can make the company 'more powerful'
Morfit disclosed the holding for the first time on an episode of 'The Master Investor.'
TL;DR
- ValueAct's Mason Morfit revealed a stake in BlackRock.
- Morfit believes BlackRock's software, especially the Aladdin platform, will increase its power.
- The Aladdin platform can automate investment decisions, improving speed and cost-effectiveness.
- This technology could help BlackRock move beyond its reputation as an ETF manager stuck in a price war.
- Morfit acknowledges the potential threat of this technology to active managers but sees industry-wide inefficiencies.
- He sees BlackRock as a leading data and software company, not just an asset manager.
- BlackRock shares have underperformed the S&P 500 recently, but most analysts have buy ratings.